{"id":582150,"date":"2023-03-02T00:00:00","date_gmt":"2023-03-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/02\/auto-sales-fall-75-y-o-y-in-january\/"},"modified":"2023-03-02T00:00:00","modified_gmt":"2023-03-02T00:00:00","slug":"auto-sales-fall-75-y-o-y-in-january","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/02\/auto-sales-fall-75-y-o-y-in-january\/","title":{"rendered":"Auto sales fall 75% y-o-y in January"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Auto sales hit a new low in January: <\/span><span style=\"\">Auto sales fell 75% in January compared <\/span><span style=\"font-weight:400;\">to the same month a year before as import restrictions and an ongoing shortage of hard currency continue to weigh on the sector. Distributors sold some 5.4k vehicles were during the month, compared to almost 21.2k in January 2022, according to figures released by the Automotive Marketing Information Council (AMIC). This is the lowest since at least the start of 2018, per our internal trackers. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The breakdown: <\/span><span style=\"\">On a<\/span><span style=\"\"> y-o-y basis<\/span><span style=\"\">, passenger car sales were down 80% to just 3.4k units, while bus <\/span><span style=\"font-weight:400;\">sales were down 39% and truck sales were 62% lower. AMIC figures reflect data contributed by member distributors, who include most (but not all) industry participants. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Sales fell sharply on the month:<\/span><span style=\"\"> January sales were down<\/span><span style=\"\"> by a third <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/02\/auto-sales-fall-73-in-december-95289\/\" style=\"\">f<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/02\/auto-sales-fall-73-in-december-95289\/\" style=\"\">rom December<\/a><\/span><span style=\"\">, with <\/span><span style=\"font-weight:400;\">passenger vehicles down 32% and bus volumes 40% lower.  Only truck sales improved on the month before, rising 11% to 1.1k units. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REFRESHER- The auto industry has been struggling for the past year. <\/span><span style=\"\">Import restrictions <\/span><span>last year made it practically impossible for distributors to bring fully built up vehicles, assembly kits, and spare parts into the country and forced a number of global car manufacturers to suspend sales to Egypt. Total sales volumes fell more than a third in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/02\/auto-sales-fall-73-in-december-95289\/\" style=\"\">2022<\/a><\/span><span style=\"font-weight:400;\">, dropping from 290k vehicles in 2021 to 184k last year, with monthly sales volumes getting progressively worse as the year went on.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">When will things start to look up? <\/span><span style=\"\">Though the central bank has already <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/30\/expat-car-for-fx-scheme-signed-into-law-bye-bye-l-cs-85346\/\" style=\"\">rolled back<\/a><\/span><span style=\"\"> import <\/span><span>restrictions brought in last spring to conserve hard currency, it\u2019s going to take time before importers start clearing the thousands of fully assembled cars <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/16\/so-you-want-to-buy-a-new-car-do-you-have-any-options-at-all-right-now-heres-the-state-of-play-as-of-february-2023-97237\/\" style=\"\">still stuck in ports<\/a><\/span><span style=\"font-weight:400;\">, let alone place new orders. We expect sales to remain low into the summer. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Need a new car, stat?<\/span><span> We\u2019ve spoken to industry experts, and they\u2019ve given us a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/16\/so-you-want-to-buy-a-new-car-do-you-have-any-options-at-all-right-now-heres-the-state-of-play-as-of-february-2023-97237\/\" style=\"\">list of locally-assembled 2023 models<\/a><\/span><span style=\"font-weight:400;\"> you can get your hands on right away. They\u2019ve also let us know what you have to do \u2014 or how long you\u2019ll have to wait \u2014 to get your hands on a model that\u2019s currently in short supply.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Auto sales hit a new low in January: Auto sales fell 75% in January compared to the same month a year before as import restrictions and an ongoing shortage of hard currency continue to weigh on the sector. Distributors sold some 5.4k vehicles were during the month, compared to almost 21.2k in January 2022, according [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":582151,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7339],"tags":[143,144,104,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-582150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-automotive","tag-amic","tag-automotive","tag-economy","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"8d463dc2-1866-4537-98f9-056ed5e6f8a8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/11\/car-crash-1600px.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[582141],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.e4265b1e-4664-45c8-bc68-1f67dabb7cbf.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Auto sales fall 75% y-o-y in January - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/02\/auto-sales-fall-75-y-o-y-in-january\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Auto sales fall 75% y-o-y in January\" \/>\n<meta property=\"og:description\" content=\"Auto sales hit a new low in January: Auto sales fell 75% in January compared to the same month a year before as import restrictions and an ongoing shortage of hard currency continue to weigh on the sector. 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